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Yahoo Finance Live anchors break down the March jobs report.
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The latest jobs report for March 2021 showed a significant increase in job growth in the United States. According to the report released by the Bureau of Labor Statistics, the economy added 236,000 jobs during the month, which is more than double the number added in February.

The increase in job growth has been attributed to the swift rollout of the COVID-19 vaccine, the easing of restrictions, and the $1.9 trillion federal stimulus package that was recently signed into law. Many businesses have started to reopen and have begun hiring again, providing much-needed relief to the struggling job market.

The unemployment rate also fell to 3.5%, which is a new pandemic-era low. This rate is down from the 6.2% recorded in February and is the lowest level since December 2019. The report also indicated that the number of long-term unemployed, or those without a job for 27 weeks or more, saw little movement and remained at 4.2 million.

Job growth was seen in a variety of industries, with the leisure and hospitality sector leading the pack with the addition of 280,000 jobs. The public and private education sector followed closely behind with the addition of 76,000 jobs, and construction saw an increase of 110,000 jobs. The healthcare and social assistance industry also saw a modest increase of 37,800 jobs.

While the March jobs report is a positive sign of economic recovery, it is important to note that the job market is still weak in some areas. The report revealed that the number of individuals who are unable to work because of pandemic-related issues, such as caring for a family member or feeling unsafe returning to work, remained unchanged at 5.5 million.

Overall, the latest jobs report indicates a positive trend in the job market as the country continues to recover from the impact of COVID-19. As businesses continue to reopen and vaccines become more widely available, experts predict that job growth will further increase throughout the year.